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The Lagos State Government paid N1.5 billion to 482 retirees in May.

The Lagos State Government paid N1.5 billion to 482 retirees in May.



FastNews reports that Mrs Ajibola Ponnle, the Commissioner for Establishments, Training, and Pensions, announced this at the 94th Retirement Bond Certificate presentation to Lagos State Public Service pensioners on Monday in Lagos.

The Lagos State Pension Commission, LASPEC, hosted the event, and Ponnle, who was represented by the Permanent Secretary of the ministry, Dr. Biodun Onayele, reaffirmed the state’s commitment to paying retiree payments.

According to the Commissioner, “Governor Babajide Sanwo-Olu has been a consistent high flyer in the pension industry with over N40.5 billion paid to 10,862 retirees. The retirees are in the Mainstream, Local Government, the State Universal Basic Education Board, SUBEB, Teaching Service Commission, TESCOM, and other parastatals of the state government from May 2019 till date.

“His vision is to have a dynamic, efficient and effective workforce to pilot the agenda of a ‘Greater Lagos.’ The safe retirement and welfare of our officers is a major priority in actualising this goal.”

The commissioner advised retirees to learn about the different options available for investing the funds in their retirement accounts.

Ponnle urged them to seek competent and reliable authorities on matters concerning pensions.

“Do not hesitate to contact LASPEC or even the Ministry of Establishments, Training and Pensions for questions or clarifications regarding the modalities surrounding your retirement benefit matters,” she said.

In his welcome address, the Director-General, LASPEC, Mr. Babalola Obilana appreciated the efforts of Sanwo-Olu towards the success of the Contributory Pension Scheme, CPS, and welfare of pensioners.

Obilana said that the governor had continuously prioritised funding of the Redemption Fund Accounts to ensure retirees access their retirement benefits as soon as possible.

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